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AUD/USD bulls fall casualty to Chinese slowdown fears, .7000 in sight

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    It’s been a rough start to 2016 for China bulls and anyone else dependent upon solid growth in the world’s second-largest economy. After Monday’s Chinese stock market washout , sentiment toward the Middle Kingdom stabilized yesterday, but that was merely the calm before today’s storm. The panic kicked off with the daily fix of China’s currency, the renminbi. The People’s Bank of China (PBOC) set the currency’s daily reference rate at 6.5314 against the dollar, its lowest level since April

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